Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-17
The market price of the city,s d We per cent.

The market price of the city's five per cent.
bonds has gone beyond par. Public conf
dence has had much to do with THIS. But the
vast amount of money seeking investment in
good securities has 50 lowered the rates of in
terest on money that it is not surprising that
our city bouds bearing five per cent. annual
interest should command such prices.
1t is source of public pride, perhaps, to
know that our securities command such re-
spect and confidence. AT the same time it
may admit of doubt whether this is q public
blessing, inasmuch as the higher our bonds go
the less our appr0pria lions to the sinking
fund become available for the reduction of
the public debt.
PAVEMENT.
During the year Broughton street. from
AberCorn to West Broad streets has been
paved with what Is known as sheet asphalt,
This was done under the provisions OF an act
OF the Legislature, by which the property
owners whose property Immediately ad-
Joined the street should pay two thirds OF the
cost, the city One-third and the street rail-
roads to pay exclusively for the space be-
tween The tracks ami three feet on either
side. The cost of this pavement. exclusive of
the space between the track Of the Coast
Line railroad and the City and suburban
railway (Which SPACE the railroad companies
paved at their own eXpensel, was $2S .6O6 80,
he whole Of which amount the city had TO
paw IN The first instance.
For the pavement of the crossings outside
OF the liae OF pavement for The street
proper. the city paid on its own account
liza Is. This deducted from The S.9,t36 II
left S2s, 2SS c6 to be adjusted between the
property owners, the railroads anu tho city.
The portion or The property owners Was SIS,
$50 %. Of the railroads 1914 32, oil the city
IS. 500 II.
The property owners have paid back 20 the
city $l5, 1850 30. leaving balance of $7lI 80
unpaid but collectable.
The railroads have refused to pay their
portion, and the city, in attempting TO en-
force the collection, has been met with an
application for injunction upon bill hled
in the United Sta es Circuit Court by the
Coast Line Railroad Company, restraining
the city from collecting The sum assessed
against this railroad as its portion OF the cost
OF the WORE.
The contention Of this railroad company 10
tn Il contract was made with IL IN 1873 by
the city, evidenced by an ordinance, by which
il was agreed shat in case the city should at
any time pave any street upon which the
railroad TRACKS should be laid, The railroad
should pave at lite own expense the space tie
tween its tracks. That this uecessarllv I'M
Piled that the railroad company should not
be required To pave any pore; and that an
act OF the Legislature requiring more was
violative OF that provision of the constitution
OF the United Staes which prohibits States
from passing any law violating the obligation
OF contracts.
Should the courts sustain the contention of
this railroad, the entire st or ito assessment,
1855 50, win fall exclusively upon the civ,
and should the other railroad the City and
Suburban Railway Company also sustain its
contention its assessment, s2sS'74, will also
fail upon the city.
The result Of the paving OF Broughton street
to the city in money Is as follows:
Expended ............. szd,f3S IL
Reimbursed by property
owners. ... ......3l6,l $50 30
Outstanding against prop.
erty owners good .... III 95-- 1S,SBS q
ylS.504 81
Claim against the street railways 3,0i4 ~
S9.65o 20
In addition TO the paving OF Broughton
street several other streets have been paved
and repaired with stone at CONSIDERABLE cost.
This work having been done by the regularly
employed hand OF the city whilo engaged at
other work makes 1t difficult TO get at It's pre-
cse cost.
THE PoLICE.
THIS force consisting of one chief, one as
sistant chief, four srrgeants and hfty-fouf
privases performs the service efficiently. The
cost of maintaining it for the year has been
SIS. 6s6 70.
STREETS AND LANES AND PARKS AND
SQUARES.
The expenses OF these departments have
been large for this year; $4,000 ~ has been
expended on the streets and lanes, exclusive
of the pavement OF Broughton street, and $40,
40 30 on the parks and squares, making the
sum total of $50, sac 60. TO the credit OF these
departments Is placed for receipts &lsl4e
leaving S6i,T0l 60.
There have beea some extraord nary but
necessary expenses incurred by these depart
ments, as Will appear by the Treasurer's re-
port. Among other Things a sewer was built
on West Broad street At cost OF $6,053.
korsyth Park railing has been repaired ana
repainted At cost OF Sd.ebI, ana mnch
more paving than usual has been done.
FIRE DEPARTMENT.
This department continues 10 increase in
eficiencyt but the expenses Of IL have like
wise increased. The expenses have been sl0,
7l3 90, much 0reatvr huna than last year.